Stocks in news: LIC, Vedanta, IRCTC, RITES, NALCO, Adani Energy Solutions, Timken, CMS Info Systems

IRCTC, Aditya Birla Fashion, GIC, Amara Raja Energy & Mobility, Aster DM Healthcare, Campus Activewear, Eureka Forbes,
As many as 453 companies are due to post their quarterly results. Among them will be IRCTC, ABFRL, JSW Holdings, GIC, NBCC, Amara Raja Energy & Mobility, Aster DM Healthcare, Campus Activewear, Eureka Forbes and RITES Ltd.


India's largest life insurer on Monday reported a net profit of Rs 13,782 crore for the quarter ended March 31, 2024, which was up by 4.5% over Rs 13,191 crore reported in the corresponding period of the last financial year. The company board has declared a final dividend of Rs 6 per share.

Read more: Here's the trade setup for today's session

Vedanta
Indian commodities tycoon Anil Agarwal’s . is considering a share sale as soon as the coming weeks that could raise as much as 85 billion rupees ($1 billion), people with knowledge of the matter said. The mining major is working with advisers including Axis Bank subsidiary Axis Capital and Citigroup Inc. on the offering, the people said. It has started gauging interest from potential investors including Middle Eastern funds, according to the people, who asked not to be identified because the information is private.


State-owned Nalco on Monday reported a two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses. The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, (Nalco) said in a filing to the BSE. However, the consolidated total income during the quarter dropped to Rs 3,663.09 crore from Rs 3,726.76 crore in the year-ago period.

Adani Energy Solutions
Adani Energy Solutions said on Monday that its board has approved a fundraise of up to Rs 12,500 crore through Qualified Institutional Placement (QIP) or any other permissible route. In its filing to the exchanges, the company said that the fundraising exercise will be subject to the receipt of the necessary approvals at the ensuing Annual General Meeting (AGM) scheduled on June 25, 2024.


Foreign promoters of Timken India are likely to sell 6.6% of stakes in the company through block deals on Tuesday, according to a term sheet issued by BofA Securities India. The term sheet indicates that the floor price has been set at Rs 3,550 per share, which is a 10.2% discount to Monday's closing price of Rs 3,956. The sale at the floor price could fetch Timken's parent company around Rs 1,775 crore or $213 million.

CMS Info Systems
The stock will be in focus as Tuesday will be the ex-date and record date for company dividend which has been declared at Rs 3.25 per share.